Industry Segments: Legal/Regulatory Page 44 / 90
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- July 2 2018
Foreign divestments in Malaysia at advanced stage
Foreign insurance companies technically had until June 30 to comply with the foreign ownership cap.
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- June 18 2018
Ex-CIRC head Xiang Junbo pleads guilty to bribery
The former chairman of China’s insurance regulatory body expressed remorse in his closing statement.
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- June 14 2018
Malaysia to further review ownership rules for foreign insurers
The review may result in the country's central bank deferring the requirement to cut ownership to 70%.
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- June 13 2018
Markel wins Lloyd’s India licence
It will initially focus on treaty and facultative reinsurance for marine, energy, contingency and professional and financial risks
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- June 4 2018
Hong Kong’s Insurance Authority closes in on new CEO
Clement Cheung, a former Commissioner of Insurance in the city, is expected to be named to the post.
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- June 1 2018
Majority foreign ownership in Chinese insurance ventures likely
The change for life insurance JVs is proposed in the latest draft regulatory amendments under consideration.
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- May 31 2018
Ex-Anbang Insurance chairman appeals conviction
Wu Xiaohui has reportedly appealed his conviction of embezzling about US$12 billion in funds.
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- May 30 2018
China imposes US$9.8m fines on insurers
Violations that incurred penalties included irregularities such as misleading sales pitches and fake materials.
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- May 24 2018
Indonesia affirms 80% ownership cap on foreign insurers
Overseas insurers that control more than the cap will be allowed to continue to operate.
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- May 24 2018
Korean life insurers see net profits fall
Dwindling sales of savings-type products and weaker investment returns are reducing income.
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- May 22 2018
JLT wins full China brokerage licence
The new licence offers the same scope as that permitted for a domestic insurance brokerage company.
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- May 22 2018
India’s top insurers told to boost risk buffers before merger
Irdai has asked the government to offer additional funds or allow the insurers to raise supplementary capital.
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- May 22 2018
China well-poised for further liberalisation
A top official noted that the country has built up strength in the banking and insurance spaces.
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- May 21 2018
Myanmar eyes insurance sector liberalisation
An investment official has hinted that it is likely to further open the industry to foreign investment.
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- May 16 2018
FWD applies for Shanghai JV
The Hong Kong-based insurer is reportedly looking at establishing a joint venture in Shanghai with unknown partners.
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- May 15 2018
Pru asks KWAP to improve its offer for stake in Malaysia unit
The retirement fund's bidding price for the 30% stake was short of the UK-based insurer's expectations.
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- May 15 2018
Sompo Japan Nipponkoa ups stake in Indian unit
It will acquire a further 6% in Universal Sompo General Insurance from Karnataka Bank.
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- May 14 2018
China issues new rules on disclosures for insurers
New rules have been released to clarify ambiguous rules on disclosures for insurance companies.
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- May 11 2018
China jails ex-Anbang Insurance boss for 18 years
A Chinese court has sentenced Wu Xiaohui after a trial that accused him of stealing more than US$10bn.
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- May 8 2018
China’s life insurance sector to rise 10-fold by 2030
In the years ahead, the best performers are likely to be those that already have one foot in the door.
